World

U.S. seeks to link IMF quota reforms to Ukraine package

WASHINGTON (Reuters) - The United States on Tuesday asked Congress to include a long-sought measure to increase the International Monetary Fund's financial power to a package of economic aid to Ukraine.

Democrats and Republicans on the Senate Foreign Relations Committee are preparing legislation to provide at least $1 billion in loan guarantees to support Ukraine's economy.

The U.S. Treasury Department is asking Congress to also include legislation that would double the IMF's resources and thereby allow countries like Ukraine access to a bigger pool of potential aid.